Tag: Alexandria Ocasio-Cortez

Ep. 897 When Are the Schemers Going to Prison?

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In this episode I address the astonishing new revelations about the spying scheme on the Trump team. I address what the FBI and the DOJ knew, and when they knew it. The timing is critical. I also address President Trump cancelling Nancy Pelosi’s trip. Finally, I address the 2020 Democrat presidential field and their “race to the bottom.”

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Ep. 895 Liberals Will Never Leave You Alone

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In this episode I address the latest bombshell about a key FBI player under criminal investigation. I also address the latest attacks by Alexandria Ocasio-Cortez on your economic freedom. Finally I address some new information which should make John Brennan sweat.

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Ep. 891 There Will Be No Retreat

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In this episode I address the partial government shutdown. We cannot lose this fight. There must be no retreat. I address the devastating consequences of a surrender in the shutdown fight. I also address the Democrats’ new trick to try and implement government-run healthcare. Finally, I address the devastating correction The NY Times had to issue on the “collusion” case.

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Ocasio-Cortez tells NY Post “I’ve Gotta Run” When Asked if She’ll Forego Salary During Shutdown

Freshman socialist Congresswoman Alexandria Ocasio-Cortez (D-NY) dodged the New York Post on Thursday when asked if she would give up her salary during the partial government shutdown (something she previously advocated for lawmakers).

The Post reports:

“I’ve gotta run!” Ocasio-Cortez told The Post when asked the question Thursday on Capitol Hill. She then scampered down a crowded hallway to get in line for her mock swearing-in with House Speaker Nancy Pelosi.

On December 22–the first morning of the government shutdown–the New York lawmaker tweeted, “Next time we have a gov shutdown, Congressional salaries should be furloughed as well. It’s completely unacceptable that members of Congress can force a government shutdown on partisan lines and then have Congressional salaries exempt from that decision.”

Socialist Darling Ocasio-Cortez Vows to Defy Pelosi on First Day in Congress

Socialist darling and New York Congresswoman Alexandria Ocasio-Cortez announced yesterday she will defy Democratic leadership and vote against a Pelosi-backed House rules package.

The 29-year-old first-time lawmaker wrote on Twitter, “Tomorrow I will also vote No on the rules package, which is trying to slip in #PAYGO. PAYGO isn’t only bad economics, as @RoKhanna explains; it’s also a dark political maneuver designed to hamstring progress on healthcare+other leg. We shouldn’t hinder ourselves from the start.”

According to Fox News, the pay-go rule “would require that any new mandatory spending for entitlements or tax cuts be offset by other separate revenue increases (such as tax hikes) or budget-cutting measures so that the new spending does not expand the federal deficit.”

Rep. Ro Khanna (D-CA) first stated he would vote against the package, tweeting, “I will be voting NO on the Rules package with #PayGo. It is terrible economics. The austerians were wrong about the Great Recession and Great Depression. At some point, politicians need to learn from mistakes and read economic history. @paulkrugman @StephanieKelton @RBReich.”

Fox reports:

So far, only Ocasio-Cortez and Khanna have publicly come out against the rules package that includes the pay-go provision. A total of 218 representatives must vote ‘yes’ to pass the new rules, meaning that ordinarily, 18 Democrats would need to vote against the rules package in order for it to fail. However, one Republican has said he will support Pelosi’s package, which would raise the needed number of Democratic defectors to 19 to kill the proposal.”

Dan slammed Cortez’s announcement, tweeting “Apparently, paying for govt with current tax revenue is now ‘bad economics.’ This is a statement so devoid of reason that rational people will struggle to grasp how a lawmaker would dare utter it.”

 

 

 

The Cost of Cortez: Nearly $2 Trillion Per Year

Authored by: Matt Palumbo

Whilst appearing on The Daily Show with Trevor Noah, something amazing happened to the Democratic-socialist darling Alexandria Ocasio-Cortez. She was actually asked how she’d pay for the wide array of social program’s she’s campaigning on.

“This is an excellent, excellent question,” Cortez told Noah. “…if we reverse the [Trump] tax bill, raised our corporate tax rate to 28 percent … if we do those two things and also close some of those loopholes, that’s $2 trillion right there.” She also cited cuts to defense, which she estimates would save an extra trillion or two. All estimates are over a ten year period.

So, she’d be able to fund $3-4 trillion dollars worth of programs, or $300-400 billion a year, but her answer doesn’t give the full context needed. While most hear “two trillion” and think “a lot,” the cost of the programs she needs to pay for cost an order of magnitude more. I’ll focus on just three; Medicare for all, free college, and a Federal jobs guarantee.

Medicare For All – AT LEAST $540 Billion A Year 

There’s been much confusion from a new Mercatus Center Study on the costs of Bernie Sanders’ latest “Medicare for all” proposal, with both sides claiming the study supports them. The study concluded that a Medicare for all program (by Bernie’s specifications) would add $32.6 trillion to the federal budget over the next ten years. In response, Bernie Sanders thanked the Koch Brothers for the study (as they fund Mercatus), and pointed out that $32.6 trillion is $2 trillion less than what total healthcare spending (public and private) in the US is expected to be over the next ten years.

The $32.6 trillion estimate however was a massive understatement, as the study conceded that all the components of Bernie’s plan would be implemented without any problems. Among those assumptions included:

  • Doctors, hospitals, drug companies and the like would face an immediate cut of 40 percent in their payments. A separate report by Health Affairs estimates that doctors would have to earn half their current salaries to make socialized medicine work, which is in line with Bernie’s proposal.
  • Bernie’s plan assumes that healthcare spending would decrease 11% if implemented. Given that over 30 million people would be insured under his plan, you’d have to assume that the newly insured use ZERO healthcare, while the previously insured use 11% less.

The study itself notes how unrealistic these expectations are – so it’s unclear what Bernie was “thanking” them for. Without any provider cuts, the Mercatus study puts the cost at $40 trillion over ten years, which turns Bernie’s supposed $2 trillion surplus into a $5.4 trillion deficit over ten years, or $540 billion a year. Bear in mind, this is the absolute minimum such a proposal would cost.

Debt Forgiveness and Free College – $1.5 trillion + $120 Billion Minimum Per Year  

The Tax Policy Center estimates that a “free public college” program (based off of Bernie Sanders proposals) would cost $807 billion over ten years, or roughly $80 billion a year. That’s based on a number of assumptions; that the number of students attending college wouldn’t increase (spoiler alert: it would), that colleges and universities wouldn’t raise tuition in the face of a truckload of Federal money, and most important of all, we’re to assume there’s no substitution with private students leaving for public schools. On that last point; who paying $50,000 at a mid-to-low tier private school would take on the debt when they can go to a public school for free?

Furthermore, the Bernie plan assumes that the Federal government would cover 2/3rds of the cost of “free” college, with the States covering the remaining 1/3rd. So in other words, the $807 billion figure is only 67% of the real cost (about $1.2 trillion).

Ocasio has another freebie to top this all off – a one time cancellation of student debt, costing $1.5 trillion.

Federal Jobs Guarentee – $900 Billion Per Year

Forbes Magazine’s Jeffrey Dorfman ran the numbers back in May on what a Federal jobs guarantee could cost, assuming that it would employ the then six million unemployed, and five million “discouraged, marginally attached [to the workforce], or working part time but looking for full time work.” And to transition those people to their federally “guaranteed jobs” (which would pay enough to prevent them from qualifying for government benefits) would cost an astounding $450 billion. Dorfman estimates that due to the relatively high pay of these government jobs to many low skilled workers, it could attract up to another 10 million employees, which would bring the cost to nearly $900 billion a year.

Just a minor disclaimer; Dorfman is a conservative who supports a federal job guarantee – but only under the condition that one is implemented alongside the abolition of all other federal welfare programs. Not only would that be politically impossible to implement (and doesn’t answer the question of what happens to the disabled who receive welfare and can’t work) Cortez does not advocate for abolishing other welfare programs, but increasing them instead, so a cost of nearly $900 billion annually is appropriate.

Conclusion

Cortez was able to come up with $300-400 billion in revenue from taxing “the rich” – but has proposed $1.56 trillion in new recurring spending annually (or $1.7 trillion if you amortize the cost of student loan forgiveness over ten years). Remember: every single one of my estimates is a minimum estimate on what her programs would cost. Given that our current budget deficit is a trillion dollars as is, Cortez would have to raise taxes on much more than just the wealthy to pay for her socialist pipe dream.

But don’t expect her to admit that anytime soon.